There are two different kinds of deposits:
- Net Deposit (Default)
- Gross Deposit
With Net Deposits, processing fees are automatically deducted before funds are deposited into your account. This reduces the workload for your team; you don’t need to worry about paying an additional monthly bill for processing fees!
Net Deposit Reporting
Your bank statements show the amount your ministry received after the processing fees are removed, providing a more accurate reflection of your true income.
Your deposit reports (batch reports and batch details) show:
- Gross amount received
- Fee Withheld
- Net amount deposited into your bank account
If you opt for gross deposits, Payment Brands will deposit the total funds paid to your account, then you’ll be billed separately for processing fees. Some organizations choose this option because it better matches their accounting processes.
To change to gross deposits, please contact the Giving Support team.
Gross Deposit Reporting
Your bank statements show the total funds received. Please keep in mind that processing fees have not yet been paid.
Gross deposit reports accurately reflect the total deposited into your bank account.
Gross Deposit Billing
Since the processing fees are not deducted from the deposit, they must be paid separately.
The processing fees will be automatically debited from your organization’s payment source on file. Billing runs between the first and fifth of the month.
Review debit amounts through your Billing Report.